Published on 12/15/2022 in the Prospect News Structured Products Daily.
New Issue: GS Finance sells $416,000 callable contingent coupon notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 15 – GS Finance Corp. priced $416,000 of callable contingent coupon notes due April 22, 2024 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
The notes will pay a contingent quarterly coupon of 6.4% per annum if each index closes at or above its 70% coupon barrier level on the determination date for that period.
The notes may be called at par on any quarterly determination date after one year.
The payout at maturity will be par if all three indexes close above their 65% barrier levels. Otherwise, investors will lose 1% for each 1% decline of the least-performing index.
Goldman Sachs & Co. LLC is the agent.
Issuer: | GS Finance Corp.
|
Guarantor: | Goldman Sachs Group, Inc.
|
Issue: | Callable contingent coupon notes
|
Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
|
Amount: | $416,000
|
Maturity: | April 22, 2024
|
Contingent coupon: | 6.4% annualized, payable quarterly if each index closes at or above coupon barrier level on the determination date for that period
|
Price: | Par
|
Payout at maturity: | Par if all three indexes close above their barrier levels; otherwise, full exposure to losses of worst performer
|
Call option: | Par on any quarterly determination date after one year
|
Initial levels: | 4,391.69 for S&P, 13,910.76 for Nasdaq and 1,990.134 for Russell
|
Coupon barriers: | 70% of initial levels
|
Trigger levels: | 65% of initial levels
|
Pricing date: | April 18
|
Settlement date: | April 21
|
Agent: | Goldman Sachs & Co. LLC
|
Fees: | 2.75%
|
Cusip: | 40057LRM5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.